Chidimma Uchegbu
The Nigerian Education Loan Fund (NELFUND) has vowed action against sharp practices in its ecosystem, insisting that it was committed to ensuring all its steps were not only audit-compliant but also fraud resistant.
The Fund’s declaration came as it partners anti-corruption, military, paramilitary and other relevant agencies on whistleblower and early warning systems, real-time data verification tools, joint audits and risk assessment models as well as citizen awareness campaigns to educate the public on their rights and responsibilities under the loan scheme.
It expressed optimism that the collaboration will fortify its ecosystem against fraud, manipulation, or misuse as the Fund would tap into their expertise in compliance, enforcement, and digital forensics.
The Managing Director and Chief Executive Officer of NELFUND, Akintunde Sawyerr, declared the agency’s commitment against corruption at a workshop with heads of anti-corruption agencies, military, paramilitary and other agencies, Friday, in Abuja.
The event marked the culmination of the 5-day Stakeholders’ Engagement Session, that brought together education administrators, vice chancellors and student union leaders, to align around a shared mission of building a student loan system that is transparent, efficient, and trusted by Nigerians.
Describing the participants as guardians of accountability, transparency, and national security, Sawyerr highlighted the need for the partnership, explaining that it would strengthen the Fund’s “internal controls by co-developing mechanisms for due diligence, applicant verification, identity protection, and fund tracking.”
“As custodians of public trust, your institutions are vital to NELFUND’s long-term credibility and sustainability. Our objectives today are threefold: To fortify the NELFUND ecosystem against fraud, manipulation, or misuse by tapping into your expertise in compliance, enforcement, and digital forensics; To strengthen our internal controls by co-developing mechanisms for due diligence, applicant verification, identity protection, and fund tracking and to build sustainable frameworks for inter-agency collaboration, policy alignment, and joint public education on the consequences of abuse and the benefits of lawful access,”he explained.
Speaking further,he said: ”The Nigeria Education Loan Fund (NELFUND) is a core pillar in the realization of President Bola Ahmed Tinubu’s Renewed Hope Agenda, an ambitious, people-centered vision to create equal opportunities for all Nigerians, particularly our youth. The launch of the student loan scheme is not just a financial intervention; it is a social contract, one that seeks to eliminate the barrier of poverty from the path of education.
“But with great vision comes great responsibility. Access without integrity breeds inefficiency. Expansion without oversight invites exploitation. That is why today’s engagement is so critical.”
He stressed that “Integrity is not merely the absence of corruption, it is the active presence of systems, partnerships, and culture that prevent malfeasance before it occurs.”
Sawyerr told the participants that over the past few months, NELFUND has made significant strides by designing a fully automated, data driven loan application and management system and engaging with over 400 institutions, including universities and polytechnics, to harmonize data, onboard student profiles, and test end-to-end digital workflows.
“We are on track to commence disbursements within the stipulated timelines, and we are committed to ensuring that every step is audit-compliant and fraud resistant.
“These milestones are not by accident they reflect deliberate planning, deep consultation, and our unwavering resolve to execute this national assignment with excellence,”he added.
He appealed to his guests for a collective and robust collaboration to ensure that “no fraudulent actor, insider threat, or technical loophole is allowed to compromise the integrity of this noble initiative.”
“As we close this week-long engagement, I am reminded that while policies may be written in government offices, their success is delivered by institutions and sustained by integrity.
“With your partnership, NELFUND can become a beacon of trust, a model of efficiency, and a flagship for the Renewed Hope Agenda, one where every Nigerian child, regardless of background, can dream boldly and achieve greatly,” he said.
The Chief of Defence Staff, General Christopher Musa, speaking at the event, appealed to NELFUND to give priority attention to children of the fallen heroes in the loan scheme,considering the sacrifices of their parents to the service of the country.
General Musa, who was represented by Air Commodore Friday Bassey, Deputy Director Training at Defence Headquarters,
explained that children of the deceased officers were finding life unbearable, especially the pursuit of their education career
because of the absence of their breadwinners in their lives, calling on NELFUND to give attention to them.
This, he explained, would encourage officers to give in their best in their services to the nation.
